Type | Sym | Class | Transaction | Value $ | Shares | Change % | * Price $ | Shares After | Date | Ownership | Footnotes |
---|---|---|---|---|---|---|---|---|---|---|---|
transaction | AVCT | Common Stock | Conversion of derivative security | +2.1M | 2.1M | Sep 8, 2021 | Please see footnotes | F1, F2 | |||
transaction | AVCT | Common Stock | Conversion of derivative security | +5.51M | +261.97% | 7.62M | Sep 8, 2021 | Please see footnotes | F1, F2 |
Type | Sym | Class | Transaction | Value $ | Shares | Change % | * Price $ | Shares After | Date | Underlying Class | Amount | Exercise Price | Ownership | Footnotes |
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
transaction | AVCT | Series A Convertible Debentures | Conversion of derivative security | -$6.31M | 0 | Sep 8, 2021 | Common Stock | 2.1M | Please see footnotes | F1, F2 | ||||
transaction | AVCT | Series A-1 Convertible Debentures | Conversion of derivative security | -$18M | 0 | Sep 8, 2021 | Common Stock | 5.51M | Please see footnotes | F1, F2 |
Id | Content |
---|---|
F1 | On September 8, 2021, the unpaid principal amount (together with all accrued but unpaid interest thereon) of the Series A Convertible Debentures and Series A-1 Convertible Debentures (the "Debentures") automatically converted into shares of the Issuer's common stock, par value $0.001 per share (the "Common Stock") at a conversion price of $3.45 (the "Mandatory Conversions"). The Mandatory Conversions were triggered by the closing price of the Common Stock on the Nasdaq Capital Market exceeding $6.00 for 40 trading days within a consecutive 60 trading day-period. This Form 4 is being filed late due to administrative error. |
F2 | The reported securities are directly held by Navigation Capital Partners SOF I, LLC, a direct wholly-owned subsidiary of SPAC Opportunity Fund I, L.P. ("SPAC Opps"), an entity controlled by Navigation Capital Partners, Inc. ("Navigation Capital" and, together with SPAC Opps, the "Reporting Persons"). As a result, the Reporting Persons may be deemed to indirectly beneficially own the reported securities. The Reporting Persons each disclaim beneficial ownership of such securities except to the extent of their pecuniary interest therein. |